RHB Investment Research Reports
Trading Stocks - EG Industries
rhbinvest
Publish date: Fri, 06 Jan 2023, 08:36 AM
rhbinvest
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An official blog in I3investor to publish research reports provided by RHB Research team.
All materials published here are prepared by RHB Investment Bank Bhd. For latest offers on RHB Invest trading products and news, please refer to: http://www.rhbinvest.com
RHB Investment Bank Bhd
Level 3A, Tower One, RHB Centre
Jalan Tun Razak
Kuala Lumpur
Malaysia
Tel : +(60) 3 9280 8888
Fax : +(60) 3 9200 2216
All materials published here are prepared by RHB Investment Bank Bhd. For latest offers on RHB Invest trading products and news, please refer to: http://www.rhbinvest.com
RHB Investment Bank Bhd
Level 3A, Tower One, RHB Centre
Jalan Tun Razak
Kuala Lumpur
Malaysia
Tel : +(60) 3 9280 8888
Fax : +(60) 3 9200 2216
EG Industries is looking to stage a bullish breakout to test the MYR0.545 immediate resistance on strong volume. We noticed that the volume has been increasing recently, showing that momentum is gathering speed. If a breakout happens, the momentum should propel the stock to the next resistance pegged at MYR0.60, followed by MYR0.635. In the event it retreats below the MYR0.505 support level, the bears will be in control.
Source: RHB Securities Research - 6 Jan 2023
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